Balancing a CheckbookA Step-by-Step GuideOnce you master the steps and commit to regularly balancing your checkbook, you are on your road to good financial management. By doing this task on a regular basis (monthly is recommended), you can prevent yourself from bouncing checks and incurring overdraft fees. You will also more easily spot any errors or even fraudulent activity. Here are the steps, adapted from http://www.wikihow.com/Balance-a-Checkbook:1. Get familiar with the check register that NORSCO

provides with your checks. Write down ALL transactions, including deposits, checks written, ATM withdrawls, debit card usages, fees etc. Just because it’s called a check register doesn’t mean you only record checks.

2. Find out your current balance. Call NORSCO or use your online access.

3. As stated, record ALL transactions. Maureen suggests using red ink for debits and black ink for deposits.

4. Regularly recalculate the balance in your account; ideally, do this after EVERY check is written, the debit card is used, or a fee charged. Also ADD all deposits, credits received from merchants, etc. This total is put in the far right column.

5. When your monthly statement arrives, compare your check register to NORSCO’s statement. Check off which checks/transactions have cleared. Add any interest earned and deduct any fees charged. What you have recorded in your register’s far right column should match the NORSCO statement, less any transactions that have not yet cleared and have not shown up yet on the NORSCO statement.

These are just the basic steps. Any of the tellers at NORSCO can answer your questions. Remember to double check your math (everyone makes simple errors!)

H O L I D AY C LO S I N G SMay 27th Memorial Day

You joined NORSCO because it was offered through your employer. And that’s good news for your family, because they are eligible for a NORSCO membership as well. As a credit union member, you enjoy many benefits not offered by banks. First of all, you are a member, not just a customer. These benefits include checking accounts with no minimum balance, no monthly service fee, no per-check charges, and free overdraft protection. And that’s just for your checking account. We offer NORSCO members low-interest loans with flexible repayment plans, and our loans are good for any worthwhile purpose. Just like banks, we of course offer mortgages, home equity loans, and student loans. Because we care about our members, we also provide financial planning services, from discount brokerage services to life insurance to tax advantaged investing options. These and other products and services are offered through MEMBERS Financial Services. Simply dial 800-324-9008 to learn more.

The best part of a NORSCO membership is that you can share all of these benefits with ANY family member—spouse, child, parent, aunt, uncle, niece, nephew. Remember, any family member can join NORSCO. They need not live in the same household. Download an application today, or bring your relative in to meet with us. Introduce your whole family to the benefits of NORSCO membership, which include:

•ATM/DebitVALUCardacceptedatATMsandretailersworldwide.Access your cash 24-hours-a-day, everyday

•AudioResponsePhoneAccess.AccessaccountsanytimebyNORSCO’s easy-to-use phone system by dialing 610-485-9585

•No-feeHomeE-Banking

•FreeTravelersChecks

•AmericanExpressGiftCardsandTravelCards

•FreeNotaryService

•AutoPricingInformation

•ConsumerInformation

Introduce Your Family to NORSCOMembership Offers Full-Service Benefits

SPRING 2013

C/O Norristown State Hospital 1001 Sterigere Street Norristown, PA 19401-5397 Tel: 610-270-1008 Fax: 610-270-1505

FEESCredit Union Check $5.00 NSF Check Return $27.00Stop Payment $7.00 ACH NSF Return $27.00ACH Stop Payment $7.00 ATM NSF $27.00Check Copy $5.00 Statement Copy $6.00

PERSONAL LOAN RATES Effective September 4, 2012Personal Loans 6.00% 20% deposit required at time of applicationLoans Secured 100% by Shares – 3.00%Loans Secured by Share Certifica te – 2.5% over current term rateTerm of certificate must be equal to or greater than the term of the loan.

INTEREST RATESEffective February 1, 2011Shares 0.30% 0.30% APYShare Drafts 0.10% 0.10% APYVacation 0.10% 0.10% APYHoliday 0.10% 0.10% APYMoney Mark. 0.75% 0.76% APY

HOME EQUITY LOANS – No Deposit Required 80% Financing1-5 Years Min $5,000.00 Max $25,000.00 3.75%6-10 Years Min $25,001.00 Max $50,000.00 3.95%11-15 Years Min $50,001.00 Max 100,000.00 4.50%

SHARE CERTIFICATESTerm Minimum Balance Rate APY9 mon $500.00 0.65% 0.90% Loss all int for early1 yr $1,000.00 0.75% 0.76% No penalty aft 90 day2 yr $1,000.00 0.85% 0.86% Loss all int for early 3 yr $1,000.00 0.95% 0.96% Loss all int for early4 yr $1,000.00 1.05% 1.06% Loss all int for early5 yr $1,000.00 1.15% 1.16% Loss all int for early

CHILDREN’S CERTIFICATE1 yr $300.00 0.75% 0.76% No penalty aft 90 day

SENIOR CERTIFICATES – age 60 or older1 yr $1,000.00 1.00% 1.01%2 yr $1,000.00 1.10% 1.11%3 yr $1,000.00 1.20% 1.21%4 yr $1,000.00 1.30% 1.31%5 yr $1,000.00 1.40% 1.41%

IRA SHARES & CERTIFICATESUnder $1,000.00 0.74% 0.75% APY$1,000.00-$19,999.00 1.14% 1.15%$20,000.00-$99,999.00 1.24% 1.25%Over $100,000.00 1.40% 1.41%1 yr $500.00 1.00% 1.01% APY3 yr $500.00 1.20% 1.21% APY

NEW AUTO – No Deposit Required – No Refinance(rates as of March 16, 2011)2-5 Years starting as low as 3.00% 6-7 Years* starting as low as 5.24%

USED AUTO – No Deposit Required – 100% of Retail Value(rates as of Sept. 4, 2012)*2010 - 2012 (6 year max) 5.50%2009 (5 year max) 5.00%2008 (4 year max) 4.50%

PAYDAY LENDERSDON’T GET TRAPPED!Talk to NORSCO First. Check Our RatesWe’ve heard of some members who have gotten loans from so-called payday lenders. So we’ve heard first-hand the negative conse-quences of committing to such a loan. The rates are sky-high, and once you sign, you can-not get out of these loans. One such lender, Western Sky, offers the following scenario for someone needing to borrow $500. The loan fee is $350, the APR (annual percentage rate) is—Maureen calculated this—342.86%. The loan is structured around 12 payments of $150.72, which means the borrower pays back a staggering $1,808.56. The payback amount is more than double, almost triple, the original loan amount of $500. In contrast, NORSCO’s rate for a $500 loan is 6%. NORSCO knows that everyone needs emergency cash/funds at some point. Please talk to us before signing a loan with such a lender. We care about your financial health! AND, if someone you know is in a financial bind, have him or her come talk to us; if they are a relative, they qualify for membership and a loan at much, much lower rate than any “payday” lender.

MAUREEN’S CORNERThe Importance of Checks and BalancingDear Maureen: I have not checked my state-ment or balanced my checkbook for a while. Now I see fees for overdrafts. What can I do? — Floating in Fees

Dear Floating: The good news is, NORSCO is here to help. You are probably not alone; I’m sure many people put off balancing their checkbook. So, please come in to the credit union or give us a call. We will go over how to balance your statement, and show you how to make entries in your checkbook. By doing these two simple things on a regular basis, you’ll get to keep more money in your account—through less, or no—overdraft fees. See the article in this issue about balancing checkbooks and reconciling monthly state-ments.

FINANCIAL STATSMembers: 2,899

Loans: $6,968,015Shares: $14,089,633

Money Market IRA: $19,187,291Total Assets: $21,152,426

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* Must borrow more than $20,000.00 in order to qualify